Hong Kong proposes licensing for fiat-referenced stablecoins
The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) have released a consultation paper outlining their proposal to accept and regulate fiat-referenced stablecoins (FRS) within the region. This significant development aims to provide a regulatory framework for stablecoin issuers while mitigating associated risks. The consultation period is set to…